Tennessee Code 46-7-105 – Contributions – Gifts of land
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Terms Used In Tennessee Code 46-7-105
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
Any person, association, or corporation may make contributions to the trust corporation for the benefit of the trust pursuant to this chapter, and the trust corporation is authorized to accept funds and deposit the funds in the trust. In addition, the trust corporation is authorized to accept gifts of land for the benefit of the trust as provided in this chapter. Gifts of land shall be made in the name of the trust corporation with appropriate language of limitation.